Posts

Where is the UNI token going?

avatar of @themarkymark
25
@themarkymark
·
·
0 views
·
2 min read

I've been watching the UNI token ever since the airdrop. I sold my air drop around $5, which at the time was really good as most people sold it immediately for around $3-3.5. I was planning on buying it back on a dip.

Instead, I provided liquidity for ETH-USDC pairing for two months when UniSwap was providing UNI based incentives to their pools. Most of this time UNI was priced under $4 with no growth in sight.

Around the time the pool incentives were ending, the price of UNI started to climb and passed $5 and then $6.

Today UNI is over $7, I'm sure most of this is the result of ETH climbing over 100% in value.

If you have been following UniSwap, you know they are working on UniSwap v3 and they believe this will be a major improvement to the platform.

"“eat Uniswap v2’s lunch,”

One of the main focuses of UniSwap v3 is addressing slippage and capital efficiency as you can tell from another quote from founder Hayden Adams.

“2021: Uniswap V3 will face slippage and capital efficiency head on to prove AMMs can outcompete traditional exchanges on all fronts.”

UniSwap currently has over 3 billion dollars in liquidity with a 24 hour volume of over 590 million dollars. It is pretty clear UniSwap isn't a fad and won't be disappearing.

I personally plan on holding UNI until the release of v3 and see where that takes it. I am not qualified to give out financial advice and only sharing my own personal experiences. As always, before making financial decisions, go ask your mom.


Securely chat with me on Keybase

Why you should vote me as witness

Posted Using LeoFinance Beta